Kathmere Capital Management LLC Boosts Stake in BlackRock $BLK

Kathmere Capital Management LLC boosted its stake in BlackRock (NYSE:BLK) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 574 shares of the asset manager’s stock after buying an additional 12 shares during the quarter. Kathmere Capital Management LLC’s holdings in BlackRock were worth $602,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in BlackRock by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 13,764,072 shares of the asset manager’s stock valued at $13,027,419,000 after buying an additional 387,466 shares in the last quarter. Royal Bank of Canada lifted its stake in BlackRock by 73.2% in the 1st quarter. Royal Bank of Canada now owns 1,313,350 shares of the asset manager’s stock valued at $1,243,059,000 after buying an additional 555,098 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BlackRock by 10.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,206,935 shares of the asset manager’s stock valued at $1,142,340,000 after buying an additional 111,694 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in BlackRock by 32.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,131,919 shares of the asset manager’s stock valued at $1,071,339,000 after buying an additional 279,336 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in BlackRock by 13.2% in the 1st quarter. Invesco Ltd. now owns 932,899 shares of the asset manager’s stock valued at $882,970,000 after buying an additional 108,473 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

Insider Buying and Selling

In related news, Director J. Richard Kushel sold 17,142 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $1,120.50, for a total value of $19,207,611.00. Following the completion of the sale, the director directly owned 61,369 shares in the company, valued at approximately $68,763,964.50. This represents a 21.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rachel Lord sold 18,036 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $1,125.60, for a total value of $20,301,321.60. Following the completion of the sale, the director owned 19,205 shares of the company’s stock, valued at approximately $21,617,148. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,494 shares of company stock valued at $74,694,573 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BLK has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on BlackRock from $959.00 to $1,210.00 in a research note on Thursday, July 10th. The Goldman Sachs Group reissued a “buy” rating and set a $1,115.00 price target on shares of BlackRock in a research note on Tuesday, July 8th. Wells Fargo & Company reduced their price target on BlackRock from $1,180.00 to $1,170.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 16th. Telsey Advisory Group reissued an “outperform” rating on shares of BlackRock in a research note on Tuesday, July 8th. Finally, Bank of America increased their price target on BlackRock from $1,214.00 to $1,224.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,154.07.

BlackRock Trading Up 0.9%

BLK stock opened at $1,157.69 on Friday. The company has a market cap of $179.27 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 2.21 and a beta of 1.45. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $1,124.77 and a 200-day simple moving average of $1,020.52. BlackRock has a 52 week low of $773.74 and a 52 week high of $1,171.89.

BlackRock (NYSE:BLK) last released its quarterly earnings data on Tuesday, July 15th. The asset manager reported $12.05 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $1.64. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. BlackRock had a return on equity of 15.53% and a net margin of 29.68%.The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $10.36 EPS. On average, equities research analysts expect that BlackRock will post 47.41 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Friday, September 5th were issued a $5.21 dividend. This represents a $20.84 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, September 5th. BlackRock’s dividend payout ratio is currently 50.39%.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.